TD Cowen Boosts Quanta Services (NYSE:PWR) Price Target to $335.00

Quanta Services (NYSE:PWR) had its target price lifted by TD Cowen from $280.00 to $335.00 in a report issued on Tuesday, StockNewsAPI reports. The brokerage presently has a “buy” rating on the construction company’s stock. TD Cowen’s price objective would suggest a potential upside of 7.72% from the company’s previous close.

Several other equities research analysts also recently weighed in on PWR. Northland Securities increased their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Wolfe Research initiated coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Finally, Truist Financial upped their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $303.86.

Quanta Services Stock Up 0.5 %

Shares of NYSE PWR opened at $310.98 on Tuesday. The stock has a market cap of $45.52 billion, a PE ratio of 60.27 and a beta of 1.01. Quanta Services has a 52-week low of $153.74 and a 52-week high of $313.56. The business has a 50-day moving average price of $277.20 and a 200 day moving average price of $267.72. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the firm posted $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Quanta Services will post 7.81 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Creative Planning boosted its stake in shares of Quanta Services by 7.5% during the third quarter. Creative Planning now owns 22,262 shares of the construction company’s stock valued at $6,637,000 after acquiring an additional 1,562 shares during the last quarter. CX Institutional acquired a new stake in shares of Quanta Services during the 3rd quarter worth about $208,000. Fiduciary Alliance LLC grew its holdings in shares of Quanta Services by 17.1% during the third quarter. Fiduciary Alliance LLC now owns 21,227 shares of the construction company’s stock worth $6,329,000 after buying an additional 3,097 shares in the last quarter. ORG Partners LLC raised its position in shares of Quanta Services by 129.1% in the third quarter. ORG Partners LLC now owns 804 shares of the construction company’s stock valued at $240,000 after buying an additional 453 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Quanta Services during the third quarter valued at approximately $95,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.